Ravens are $3.321 million under NFL salary cap limit

Pictures of the Ravens game against the Cincinnati Bengals in Week 17.

Aaron WilsonThe Baltimore Sun

As it turned out, the Ravens definitely needed that restructured contract from cornerback Lardarius Webb.

Even after creating $3 million in salary cap space by converting $4 million of Webb's $7.5 million base salary into a signing bonus, the Ravens are just $3.321 million under the NFL salary-cap limit of $133 million.

That number will hardly change once the Ravens' $730,000 contract for veteran cornerback Derek Cox is processed. Cox will count $570,000 against the salary cap under the veteran minimum salary benefit. Subtracting linebacker Josh Bynes' $575,600 salary means the roster moves were essentially a wash under NFL accounting procedures.

Like all NFL teams, the Ravens are now under regular-season salary-cap rules with all 53 active contracts, players on injured reserve and practice squad salaries all counting against the cap.

Former Ravens practice squad tight end Matt Furstenburg (Maryland) counts for $121,000 against the salary cap after he filed an injury grievance. He was cut following the NFL draft. Furstenburg has undergone back surgery.